Welcome to our dedicated page for Gatos Silver news (Ticker: GATO), a resource for investors and traders seeking the latest updates and insights on Gatos Silver stock.
Gatos Silver, Inc. (NYSE: GATO) is a leading development and exploration company specializing in silver and associated minerals. The company's primary focus is the production and advancement of its flagship asset, the Cerro Los Gatos Mine, located in the prolific Los Gatos District in Chihuahua, Mexico. This district spans over 103,000 contiguous acres and includes 14 identified mineralized zones, featuring significant silver-lead-zinc deposits such as the Cerro Los Gatos Mine, the Esther deposit, and the Amapola deposit.
Gatos Silver operates through two main segments: Mexico and Corporate. The Mexico segment is dedicated to the exploration, development, and operation of the company’s mineral interests within Mexico, including the investment in the Los Gatos Joint Venture (LGJV). This partnership is a joint venture with Dowa Metals & Mining Ltd., where Gatos Silver holds a 70% ownership stake and serves as the operating partner.
Recent achievements include significant advancements in resource exploration and development. Notable updates include resource definition drilling intercepts at Cerro Los Gatos, with the latest mineral reserves and resource estimates disclosed in the 2023 Technical Report Summary filed with the SEC. The exploration efforts continue to expand, targeting new areas like the San Luis area, which shows promising quartz-calcite veining similar to the South-East zone at Cerro Los Gatos.
Gatos Silver is also unique in its vertical integration capabilities. The company owns the Sunshine Precious Metals Refinery, which is adjacent to the Sunshine Mine in Idaho. This allows Gatos Silver to process and refine high-purity silver, being the only North American silver mining company certified to sell directly to the COMEX in New York.
Financially, Gatos Silver has shown robust performance. The company provided guidance for 2024, estimating silver equivalent production between 13.7 and 15.3 million ounces, utilizing current market prices for precious and base metals. This production estimate reflects consistent operational efficiency and strategic management.
For investors seeking the latest updates and detailed information on Gatos Silver’s performance, projects, and developments, staying informed through the company's latest news releases and technical reports is highly recommended.
Gatos Silver (NYSE/TSX: GATO) reported continued drilling results from the South-East Deeps zone at its 70%-owned Cerro Los Gatos mine in Mexico. Highlights include:
- 3.5m at 214 g/t Ag, 19.00% Zn, 12.23% Pb
- 3.0m at 81 g/t Ag, 9.94% Zn, 3.88% Pb
- 6.5m at 43 g/t Ag, 4.52% Zn, 1.78% Pb
The company also provided updates on its regional exploration program:
- Drilling at Portigueño target intercepted anomalous precious and base metals
- Initial drilling at San Luis target returned wide quartz vein and silicified breccia intersections
- Drilling began at Cerro Los Gatos Central Deeps target
- Mapping continued in Lince, San Agustin, and La Paula areas
Gatos Silver expects to complete its next reserve and resource estimates update in Q3 2024.
Gatos Silver reported record production results for Q2 2024 at its Cerro Los Gatos mine. The mine achieved record mill throughput, averaging 3,240 tonnes per day, a 1% increase from Q1 2024 and 11% from Q2 2023. Silver equivalent production rose by 18% year-over-year to 3.88 million ounces, with zinc production hitting a record 19.1 million pounds, a 29% increase year-over-year. Silver production was up 15% to 2.30 million ounces. Lead and gold production also saw increases of 24% and 14%, respectively. The company remains on track to meet the higher end of its 2024 guidance. Exploration efforts have intensified, aimed at extending the mine's life. Cash and cash equivalents stood at $82.5 million as of June 30, 2024.
Gatos Silver reported that stockholders voted in favor of all business items at the Annual Meeting on June 6, 2024. Out of 50,802,836 votes cast, 74.43% of the outstanding shares participated. Director elections included Janice Stairs with 89.16% votes for, Dale Andres with 99.91%, Ali Erfan with 99.89%, Igor Gonzales with 99.83%, Karl Hanneman with 81.54%, Charles Hansard with 89.17%, David Peat with 81.96%, and Daniel Muñiz Quintanilla with 99.50%.
Stockholders also ratified Ernst & Young LLP as the independent accounting firm for 2024 with 99.26% votes in favor.
Gatos Silver, a silver dominant company, primarily operates the Cerro Los Gatos mine and holds 70% in the Los Gatos Joint Venture in Chihuahua, Mexico.
Levi & Korsinsky, LLP has announced a settlement in the class action lawsuit against Gatos Silver, Inc. (GATO). The settlement fund is $21 million, intended to benefit class members who purchased or acquired Gatos common stock or certain related securities between December 9, 2020, and January 25, 2022, and were damaged as a result. Eligible class members must file a claim form by June 19, 2024, to receive a share of the settlement. Levi & Korsinsky, known for their expertise in securities litigation, provides this information to remind class members of the filing deadline.
Gatos Silver, Inc. reports first quarter 2024 results with revenue of $72.2 million, up 3% from the previous year. Net income was $10.2 million, down 20%. The company expects full year 2024 production to be in the top half of guidance ranges. Cash balance increased to $85.4 million. Gatos Silver expects plant throughput to improve and maintains debt-free status.
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